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UK GAS-Prices mixed, undersupply lifts within-day contract

Tue, 27th Oct 2020 10:36

LONDON, Oct 27 (Reuters) - British wholesale gas prices were
mixed on Tuesday, with the within-day contract buoyed by an
under-supplied market while curve prices slipped amid a weaker
energy complex.

* The within-day contract was up 0.70 pence at
40.50
p/therm by 1023 GMT.

* The day-ahead contract was flat at 40.00
p/therm.

* Traders said an unplanned outage at Norway’s Kollsnes gas
processing plant had led to a dip in exports to Britain from the
country, contributing to an under-supplied UK market.

* An unplanned outage reduced capacity at the processing
plant by
23 million cubic metres (mcm) a day on Tuesday, operator Gassco
said in a market notice, and estimated the outage could end by
Wednesday morning.

* Imports to Britain from Norway though the Langeled
pipeline were
around 67 mcm on Tuesday, National Grid data showed, down from
around 74 mcm the previous day.

* Britain’s gas system was under-supplied, with demand
forecast at
231 million cubic metres (mcm) and supply forecast at 211.8
mcm/day, National Grid data showed.

* Further out on the curve prices edged lower, following a
3% drop
in oil prices in Monday’s session.

* The November gas contract was down 0.20 p at
41.50
p/therm.

* The December contract was down 0.50 p at
44.00
p/therm

* The day-ahead gas price at the Dutch TTF hub
was
down 0.17 euro to 14.65 euros per megawatt hour.

* The benchmark Dec-20 EU carbon contract was down
0.28
euro at 23.57 euros per tonne.
(Reporting by Susanna Twidale; editing by Nina Chestney)

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